Breckinridge offers critical advantages in managing municipal bond portfolios:
Broad Dealer Network
By trading with over 150 dealers, Breckinridge strives to see more opportunities with the goal of buying better bonds at better yields.
Most broker/dealers have access to only a small fraction of new issue and secondary market activity.
Recognizing Market Inefficiency
With no central exchange and over 2 million different municipal securities that trade infrequently, the best opportunities are unpredictable and don’t last.
Fundamental Credit Analysis
Municipal bonds are not always the safe, simple investment they may appear. Breckinridge looks beyond ratings, analyzing each security to minimize credit risks the individual investor may overlook.
Customized Portfolio Structure
A portfolio's structure is as important as security selection. Balancing income targets and market volatility requires a proactive approach that can adapt to changes in the capital markets.
Tax-Aware Investing
Regardless of a client's tax status or state of residence, Breckinridge looks to tailor a portfolio to maximize after-tax returns.
Liquidity
With access to competitive institutional bids, Breckinridge strives to enhance a portfolio's liquidity and to provide greater flexibility in either raising cash or restructuring a portfolio.
Over 125 Years of Experience
With a collective experience of over 125 years, Breckinridge has 9 dedicated investment professionals, including 4 Portfolio Managers, 3 Traders and 2 Analysts.
Peace of Mind
It is our belief that unmanaged municipal bond portfolios usually suffer from neglect - risks are generally ignored and opportunities can be missed. An inefficient market puts unsophisticated investors in a particularly vulnerable position. At Breckinridge, all of our time and resources are dedicated to the management of municipal bond portfolios.
